Who is the FDIC?

The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system:

·        by insuring deposits in banks and thrift institutions for at least $250,000;

·        by identifying, monitoring and addressing risks to the deposit insurance funds; and

·        by limiting the effect on the economy and the financial system when a bank or thrift institution fails.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts.